Does back to school mean back to normal for home buyers?

Does back to school mean back to normal for home buyers?

There's no doubt about it, we’ve experienced massive changes in our local real estate market, having a big impact on home buyers.

We watched as mortgage interest rates dipped to lows never seen before. While at the same time, housing prices increased while housing inventory decreased quickly.

But as summer vacations wrap up and kids go back to school, it looks like things may be getting back to what people consider "normal", which is good news for homebuyers.

Travel Trends Signal Changes


One of the big impacts of COVID was restricted travel as statistically-speaking, Americans spend a LOT of money on vacations.

And with less money being spent on travel, many people chose to improve their homes, buy second homes or purchase larger homes over the last few years.

That trend is normalizing quickly since this summer, as travel restrictions have eased, we're traveling again.

Outbound international U.S. flights increased 97% year-over-year from April 2021 to April 2022, according to U.S. International Air Travel Statistics. And Airbnb data from May 2022 also showed an all-time high in long-term stay bookings.*

It feels like a great deal of Americans took a well-deserved vacation this summer and for the first time in a while, back to school feels like back to normal.

Getting Ready to Purchase a Home?

If you’ve been waiting for the “right” time to buy because of low housing inventory or higher home prices, now may be a good time to start getting ready.

While housing prices have begun to stabilize at the end of the summer, it remains a competitive market. And the best way to make sure you are prepared to make an offer on a home you really want is to get pre-qualified before you go home shopping.

Talk to one of our loan officers at a branch near you to start the process today. We will walk you through all your options on a home loan and help you find the best fit for your needs.


* Data Source: